Thursday, August 24, 2006

ChemoCentryx Gets $17.7M, Lands $1.5B Deal With GlaxoSmithKline

Mountain View-based ChemoCentryx said today that it has raised a $17.7M Series C financing, and landed a $1.5B deal with GlaxoSmithKline. ChemoCentryx said today that it is in a strategic alliance with GlaxoSmithKline that includes $63.5M in cash and equity, in addition to the milestone payments worth up to $1.5B. Funding for this round came from Jennison Associates, HBM BioVentures, Orbimed Advisors, Techne Corporation, Alta Partners, and GIMV. The round brings ChemoCentryx up to $90M raised in 2006. ChemoCentryx is developing biopharmaceuticals for the treatment of autoimmune diseases, inflammatory disorders and cancer. More information »